It doesn't feel like a suburb of Memphis.
Collierville has an actual downtown — a walkable Town Square with local shops and restaurants, not a strip mall. That "old town feel" is part of the draw, layered on top of a municipal school district that runs its own nine schools and posts a graduation rate around 95%.
It's one of the more family-centric suburbs in the whole Memphis metro, with a noticeably higher share of households with kids than the surrounding county. Golf courses, parks, and newer subdivisions on the edges of town round it out for buyers wanting more space.
Expect a real commute — 30 to 40 minutes to downtown Memphis depending on where you're headed — so this suits people settling in for schools and lifestyle, not a short drive to the office.